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1/10 Focus on demand destruction in oil getting more coverage.
Demand destruction meets supply issues.
#Oil , #xle , #CrudeOil , #energy
Demand destruction meets supply issues.
#Oil , #xle , #CrudeOil , #energy
2/10 I have written a number of threads since March this year about my assumption that global oil demand peaked in 2019. The reasons can be found in the threads listed below. 
3/10 The rebound from COVID crisis level oil demand in 2020 & firm crude prices have been mistaken by many as a return to perpetual demand growth. Instead the rebound to 'normal' economic activity met inelastic supply taking longer to rebound further elevated by the 🇺🇦 invasion.
1/16 Lots of noise on oil again at the moment.
Who wins the race between peak/falling oil consumption and supply constraints?
#oil
#XLE
Who wins the race between peak/falling oil consumption and supply constraints?
#oil
#XLE
2/16 I seek out information which does not confirm my thesis that oil consumption is peaking for good.
I listened to J Young on @JackFarley96 podcast this morning. The relevant part I disagree with is at 8:29 min "oil demand continues to grow at 1% annually".
I listened to J Young on @JackFarley96 podcast this morning. The relevant part I disagree with is at 8:29 min "oil demand continues to grow at 1% annually".
3/16 I am not trying to pick on one particular investor. There are others.
Below is past global oil consumption data and current forecast for 2022 by eia.gov . The data includes the downward revision in March by 1 mil barrel by the EIA. Data via @GregorMacdonald
Below is past global oil consumption data and current forecast for 2022 by eia.gov . The data includes the downward revision in March by 1 mil barrel by the EIA. Data via @GregorMacdonald
Charts Time!
Follow the thread
$SPY $SPX $QQQ $JETS $NVDA $AMZN $XLE $XLF $PLTR $IWM $TRAN $MJ
Follow the thread
$SPY $SPX $QQQ $JETS $NVDA $AMZN $XLE $XLF $PLTR $IWM $TRAN $MJ
$SPY
still looks very bullish on weekly, i expect it to move to 400 early next week
still looks very bullish on weekly, i expect it to move to 400 early next week
$QQQ
#QQQ similar on weekly, if it dips anywhere close towards 320, buy weeklies and monthlies as its gonna go right back up, below this line though we'll see what happens
#QQQ similar on weekly, if it dips anywhere close towards 320, buy weeklies and monthlies as its gonna go right back up, below this line though we'll see what happens
Charts Time!
Follow the thread
$SPY $SPX $QQQ $JETS $NVDA $AMZN $XLE $XLF $PLTR $IWM $TRAN $MJ
Follow the thread
$SPY $SPX $QQQ $JETS $NVDA $AMZN $XLE $XLF $PLTR $IWM $TRAN $MJ
$SPY
still looks very bullish on weekly, i expect it to move to 400 early next week
still looks very bullish on weekly, i expect it to move to 400 early next week
$QQQ
#QQQ similar on weekly, if it dips anywhere close towards 320, buy weeklies and monthlies as its gonna go right back up, below this line though we'll see what happens
#QQQ similar on weekly, if it dips anywhere close towards 320, buy weeklies and monthlies as its gonna go right back up, below this line though we'll see what happens
